Louisiana not best or worst to be rich or poor from tax perspective

From a tax perspective, Louisiana ranks in the middle when it comes to states best and worst to be rich or to be poor.

In a new survey from WalletHub, Louisiana that considers the best and the worst, Louisiana is not on the high or the low end of any of the findings.

Here are two of the findings for Louisiana as it relates to comparative property tax burden for low-income earners and middle-income earners.

The property tax burden for low-income earners is five times higher in New Jersey than in Louisiana.

The overall tax burden for middle-income earners is three times higher in New York than in Alaska.

The property tax burden for middle-income earners is six times higher in New Hampshire than in Louisiana.

In general, Alaska is the best place to live if you are rich or poor from a tax perspective

With the tax deadline for most Americans fast approaching and low- and middle-income families expected to pay higher effective tax rates than the rich, the leading personal finance social network WalletHub conducted an in-depth analysis of 2015’s Best States to Be Rich or Poor from a Tax Perspective.

In order to identify the best states where people in different income brackets spend the most and least on taxes, WalletHub calculated the share of one’s income that he or she contributes toward sales and excise taxes, property taxes and income taxes.

Best States to Be Rich from a Tax Perspective

Worst States to Be Rich from a Tax Perspective

1

Alaska

47

Minnesota

2

Wyoming

48

New Jersey

3

Nevada

49

Maryland

4

Tennessee

50

Connecticut

5

South Dakota

51

New York

Best States to Be Poor from a Tax Perspective

Worst States to Be Poor from a Tax Perspective

1

Alaska

47

Ohio

2

Delaware

48

Arizona

3

Montana

49

Illinois

4

Nevada

50

Hawaii

5

South Carolina

51

Washington

Key Stats

The overall tax burden for low-income earners is two times higher in Washington than in Alaska.

The sales and excise tax burden for low-income earners is six times higher in Washington than in Oregon.

The property tax burden for low-income earners is five times higher in New Jersey than in Louisiana.

The overall tax burden for middle-income earners is three times higher in New York than in Alaska.

The property tax burden for middle-income earners is six times higher in New Hampshire than in Louisiana.

The overall tax burden for high-income earners is four times higher in New York than in Alaska.

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